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The market for bio-acrylic acid is expected to register a significant growth during 2018 to 2023 (the forecast period).This significant growth is majorly driven by the increase in the number of stringent regulations over conventional acrylic acids.

Stringent Regulations over Conventional Organic Acids

The market for bio-acrylic acids is majorly driven by the stringent environmental regulations imposed by regulatory bodies of various countries on conventional acrylic acid producers. Organic acids can serve as platform chemicals for the production of polymers, food, coatings, lubricating oils, pharmaceuticals, cosmetics, solvents, and other materials. Recently, bio-acrylic acids have been gaining significance as a replacement for conventional organic acids, due to their renewability and eco-friendly nature, which is a key tool for increasing the market share of the global bio-acrylic acid market, in the forecast period.

Acrylic Esters Segment to Dominate the Market Share

Among product types, acrylic esters holds the highest market share of the global bio-acrylic acid market, accounting to around 60% of the market share. The acrylic esters are further segmented into methyl acrylate, ethyl acrylate, butyl acrylate, and 2-ethylhexyl acrylate. The key applications of acrylic esters is majorly found in paints and coatings, adhesives and sealants, textiles and plastics. The immensely growing paints & coatings industry is quite helpful in fueling market growth for acrylic esters, which in turn, is expected to drive the demand for global bio-acrylic acid market in the nearby future.

Asia-Pacific to Ignite the Market Growth

Though Europe is the largest regional market for global bio-acrylic acid, Asia-Pacific is also an important market, as it represents the fastest growing regional market. The increasing demand from water treatment, cosmetics, and coating industries of countries, like China, India, Thailand, and Korea, is providing significant opportunity for the bio-acrylic acid market to continue a very fast pace of growth. Moreover, since, the product is an intermediate and is bio-degradable in nature, it has been widely accepted by industries for various other purposes, such as polymer resins. The large market size, with this huge growth of the Asia-Pacific region, is quite instrumental in the expansion of the global bio-acrylic acid market.

Key Developments in the Market

August 2017: The discovery of the Monascus ruber micro-organism proved to be the crucial step in producing organic acids in large-scale industrial fermentation processes.